Depending on where your business is based, there are many currencies MONEI supports for making charges and transfers.
No matter where your customers live, you can accept charges in your country’s supported currencies from almost any credit or debit card. It’s possible that customers in other countries will be charged additional fees by their bank.
If a customer makes charges with an unsupported currency or from a different country than the one where your business is based, there are two fees they might potentially see.
1. Bank Conversion Fees
If your customer’s currency isn’t supported by MONEI, the bank will convert the charge to your default currency and add an additional fee for your customer.
2. Foreign Transaction Fees
If your customer’s bank is based in a different country than your business, it’s possible that their bank will add additional fees. This is up to your customer’s bank and will vary.
Bank Account Currencies
In order to avoid conversion fees, users in some countries are able to set up multiple bank accounts to make transfers in multiple currencies. You are able to connect one bank account for each supported currency. Here are three details to consider.
1. Default Bank Account Currency
You can have multiple bank accounts, but you must choose one as your default account. If you receive transfers in a currency that you do not have a bank account for, the charges will be converted to the currency of your default bank account.
2. Currency Conversion
We automatically convert charges made in a different currency to your default bank account into your default currency using the current exchange rates.
There are resources online that can help you determine the current exchange rate (such as Open Exchange Rates or Google’s Currency Converter), but these numbers may not represent our rates at the time of the conversion, as they can frequently fluctuate.
3. Required Bank Locations
The country where your currency is based doesn't need to be where your bank is located. USD bank accounts can be located in France, for example.
There are a few exceptions:
- Canadian businesses with USD bank accounts based in Canada can receive transfers in USD
- EUR bank accounts must be based in a country where MONEI is currently available
- If the bank accepts transfers via BACS, a GBP bank account can be based in Ireland
Supported Currencies by Country
The country where your account is based determines in which currencies you can charge a credit card. MONEI supports many currencies including EUR, USD, and GBP.
See below for a list of supported currencies (in alphabetical order):
|CFA Franc BCEAO|
|CFA Franc BEAC|
|East Caribbean Dollar|
|European Currency UN|
|Netherlands Antillian Guilder|
|New Taiwan Dollar|
|New Zealand Dollar|
Philippine PesoGuinea-Bissau Peso
|Saint Helena Pound|
|Trinidad and Tobago Dollar|
|Yugoslavian New Dian|